Russia challenges recovery of US$1.3 bln in favor of Ukraine's Oschadbank

Photo from UNIAN Russia has appealed a ruling issued by the International Court of Arbitration of the International Chamber of Commerce (ICC) to recover US$1.3 billion and the interest accrued since March 2014 in favor of Ukraine&#39;s state-owned Oschadbank. "The arbitration decision on the claim of PJSC Oschadbank of Ukraine has been appealed in the courts of France. Litigation is underway," Strana.ua reported with reference to the press service of the Ministry of Justice of Russia. "The competence of arbitration for such claims is categorically refuted in the appeal," the ministry said. Read alsoKyiv court enacts recovery of US$1.3 bln from Russia for Oschadbank&#39;s Crimea assets "In addition, the Ukrainian side did not notify the Russian Federation, in accordance with the procedure established by relevant international conventions, about consideration of the application for recognition and enforcement of this ruling on the territory of Ukraine," reads the report. As UNIAN reported earlier, Kyiv&#39;s Court of Appeals on July 23 granted the motion filed by Ukraine&#39;s state-owned bank Oschadbank and ruled to execute a ruling issued by the International Court of Arbitration of the International Chamber of Commerce (ICC) to recover US$1.3 billion from the Russian Federation as compensation for the seizure of bank assets in Crimea.

Russia challenges recovery of US$1.3 bln in favor of Ukraine's Oschadbank

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